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About the statistics

The statistics provide an overview of lending and deposit interest rates in financial institutions, and the distribution of
lending rates by fixed-rate period. The statistics cover monthly statistics for a sample of banks and mortgage companies.
A total count of all financial institutions is published quarterly, which also includes lending amounts distributed by fixed-rate
period.

Deposits on demand is deposits that are available on demand, or after an initial period of one month maximum, and can be used
without incurring costs beyond the normal transaction fees.

Deposits with conditions is deposits that cannot be used within one month without incurring costs beyond the normal transaction
fees, and deposits that need to be used for a predetermined purpose.

The interest margin in the banks is calculated as the difference between the average interest rate on loans to the public
and the average interest rate on deposits from the public. The interest margin on deposits is the difference between the 3-month
effective NIBOR on the last working day of the period and the average interest rate level on deposits from the general public.
The interest rate margin on lending is the difference between the average interest rate on loans to the public and the 3-month
effective NIBOR.

The interest statistics include commission linked to credit loans granted, utilisation commission and current administration
fees. Non-recurring commissions, set-up fees and instalment fees are not included in the interest statistics.

New loans are defined as any new agreement where the interest rate is set for the first time. Loans that are bought or transferred
from another credit source are only considered to be a new loan if the terms for the interest rate or the loan agreement are
altered.

Loans with floating interest rates are loans with a remaining fixed rate period of 3 months or less. Loans with fixed interest
rates are loans with a remaining fixed rate period of more than 3 months. In the old fixed-interest rate statistics, the loans
with floating interest rates were loans with no fixed-interest rate period.

Interest rate statistics were produced by Norges Bank from 1979 to 2006, and were subsequently transferred to Statistics Norway.

As from October 2014, interest rate statistics is published monthly for a sample of banks and mortgage companies. The monthly
series starts in December 2013. Tables with quarterly data for total banks, mortgage companies, state lending institutions,
finance companies and The Norwegian Public Service Pension Fund is also updated. The new interest rate statistics includes
interest rates on new loans, interest rates and loan amounts (quarterly data only) by remaining maturity. The old fixed-interest
rate statistics is no longer published.

The interest rate statistics are used in the following areas, amongst others: financial stability and monetary policy purposes,
international reporting, production of the national accounts and by the general public.

No external users have access to the statistics and analyses before they are published and accessible simultaneously for all
users on ssb.no at 08 am. Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar

The interest rate statistics are collected under the provisions of the Act on the supervision of credit institutions, insurance
companies and securities trading, etc. of 7 December 1956 no. 1 (the Financial Supervision Act). Reports from state lending
institutions are obtained under the provisions of the Act concerning official statistics and Statistics Norway of 16 June
1989 no. 54 (the Statistics Act).

The statistics cover weighted average interest rates including commissions and associated amounts on loans to the general
public (households, non-financial companies and local government) from banks, mortgage companies, state lending institutions,
The Norwegian Public Service Pension Fund, finance companies (from December 2013) and life insurance companies (until June
2014) and weighted average interest rates and associated amounts on deposits in banks by the general public in NOK.

Data for outstanding amounts refers to the end of the month and data for new loans are calculated as an average of new loans
during the month.

The statistics cover interest rates by type of loans and deposits in Norwegian kroner from Norwegian borrowers in the public
sector. The statistics also cover interest rates on loans by remaining fixed interest rate period.

The main source for the interest rate statistics is data collected through the accounting and supervisory reporting system
(ORBOF), and a separate report from The Norwegian Public Service Pension Fund.

The quarterly data are collected for all the banks, mortgage/finance companies and state lending institutions.

The monthly figures are based on a sample of banks and mortgage companies according to ECB principles. The sample covers at
least 75 per cent of total loans and deposits and includes at least 30 per cent of banks and mortgage companies in the population.
The quarterly tables are based on a full sample.

The reporting institutions receive automatic feedback on errors or possible errors in the reporting. These errors should be
corrected within two days. After data processing in Statistics Norway, reporting institutions may be asked to control, verify
or correct other data not included in the automatic feedback. Corrections from the reporting institutions are received continuously.

All interest rates are calculated as annualised interest payable in arrears.

From April 2015, a new specification of deposits was implemented in the banks’ reporting. This has caused a break in the time
series for the detailed type of deposits’ interest rates. The background for the new specification of deposits was a restructuring
of the monetary aggregate statistics according to the ECB’s guidelines. For more information, please see ‘Pengemengdestatistikken 2015’ (in Norwegian only). The time series for the total interest rates on deposits aren’t influenced by the new specifications.

The data by maturity in the new interest rate statistics, published in Statbank table 10648, are not directly comparable with
the old fixed-interest rate statistics (http:// http://www.ssb.no/en/bank-og-finansmarked/statistikker/orbofur and Statbank table 08115). The new statistics only include loans in Norwegian kroner, while the old statistics included loans
in both Norwegian kroner and foreign currency.

Since December 2013, finance companies have been included in the interest rate statistics, while life insurance companies
have been removed. This leads to a break in the series for all financial corporations.

Since the third quarter of 2013, bad loans have not been included in the weighted average interest rates. Bad loans are defined
in accordance with Regulation (EC) No 25/2009 of the European Central Bank.

The sources of error for the interest rate statistics are mainly errors in the data that is reported to the financial market
statistics. Processing errors can also occur.

For aggregated series for outstanding loans and deposits, interest rates in the monthly sample should not deviate by more
than 0.1 percentage point from interest rates for total banks and mortgage companies in the quarterly tables that are based
on a full sample.